Take a look at http://www.crowdfunding.co.za — I think this is a fantastic idea, and I’m excited to see initiatives like this starting to spring up. This is the kind of stuff we’ve always hoped projects like the Silicon Cape Initiative would help catalyse.
Judging by the response, it’s proving to be very popular already — 34 prospective investors have signed up within a day, raising over R100,000. I’ve pledged myself for ten units already, and I’m eagerly looking forward to seeing where this goes.
One of the challenges facing entrepeneurs and VCs in SA is the distinct lack of angel funding and easily accessible angel networks, typically required to supply deal flow for investors. In Silicon Valley, there is a vibrant angel investing scene, largely driven by previously successful founders. It’s a cyclic phenomenon where one successful generation helps feed the next. We’re still at the beginning of setting this cycle in motion in SA.
Due to the lack of this, at 4Di Capital we had to create our own seed fund in the meantime, essentially half institutionalising the process to plug the gap. But we’ve always hoped that the powerful distributed effect of private angel investing and other methods would eventually take over, and I’m so glad that it’s already happening. Let’s see where it takes us!
I think this is a brilliant idea!! very much understand this fund will be aimed at “conception” stage startups, to fill the gap between idea and early stage startup… a foot in the door so to speak which will 10fold their chances of success.
Been pondering for a some time to start a pool fund, so kudos @EveD for taking the initiative. My only concern is that the pool is so little…. finding 100 people with a passion for the online industry to invest is easy, finding 900 people that would invest based on a ROI, is another thing.
My brother is of the opinion that he would invest 100K+ if he knew the pool was larger than a Million and from a financial point of view, I to agree with him. Other than that, this is an awesome innitiative as it will provide young entrepreneurs with a voice and much needed kickstart, driven by solid mentorship program.
Wishing http://www.crowdfunding.co.za and all it’s partners success with this innitiative.
Eve needs a medal! Whoop whoop!